Credit score Suisse CEO Thomas Gottstein is about to step down from the embattled funding financial institution, the Wall Road Journal reported on Tuesday.

The Zurich-based financial institution will quickly announce the departure of Gottstein after a tenure through which he oversaw a collection of embarrassing mishaps and several other unprofitable quarters, in line with the Journal. His substitute could not be decided, the newspaper stated.

Candice Solar, a spokesperson for the financial institution, declined to touch upon the report.

Credit score Suisse is about to report second-quarter outcomes on Wednesday, and it has already warned buyers that it’ll lose cash. The financial institution blamed worsening financial situations in Europe and Asia for the loss.

Gottstein, a two-decade veteran of Credit score Suisse, took over in early 2020 and was quickly wrestling with the expensive fallout from the meltdown of two key purchasers: the Archegos household workplace and supply-chain finance agency Greensill.

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